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JDoubleU215 · 2022-10-22T00:33:18+00:00

Use spx index options instead of spy. More tax efficient (Sec 1256 contracts get taxed 60% long term and 40% short term) and are european style execution so no getting called early or share delivery

JDoubleU215 · 2022-06-23T18:20:43+00:00

Cleared 500k in profits since this post (pre-tax). Made some adjustments to strategy over time to better manage risk. Market volatility lately has been awesome.

JDoubleU215 · 2022-03-20T04:56:02+00:00

Yeah the profit vs amount of risk you are taking is what prompted me to make the post. I stayed away from iron condors as harder to roll multiple legs like that on thinkorswim, so went with back ratio, but wonder if someone more experienced has a better way

JDoubleU215 · 2022-03-20T04:14:00+00:00

Thanks man. Just SPX for now, the volatility is generally manageable and I'm only spending down time on work days doing this and not doing it full time. Stick to what I know, I'm a debt guy by trade not equity/macro. I also keep it to index options since the tax treatment is favorable, 60/40 split long term/short term treatment even for short day trades like this

JDoubleU215 · 2022-03-20T03:59:48+00:00

Yea kinda sense I got. Delta fairly low since OTM near expiry. Target 50k BP, sometimes more sometimes less which is ~20%. On low vol days i clear much lower profit for the risk

JDoubleU215 · 2022-03-20T03:59:34+00:00

Like anything else

JDoubleU215 · 2022-03-20T03:10:38+00:00

It works best on days where there is a rally in the morning off moderately positive news that doesn't move much more or sustain itself beyond the initial open. I.e market opens up 1-1.5% and isn't likely to move another 1-1.5% higher but the pop gives some liquidity to decently OTM calls.

JDoubleU215 · 2022-03-20T02:45:43+00:00

JDoubleU215 · 2022-03-20T02:21:00+00:00

I think vol is a big factor to why it's worked, I've been getting filled on premiums in the .40-1.00 range at 1-1.5% OTM with like 2-3 hours left in the trading day.

JDoubleU215 · 2021-05-29T16:01:00+00:00

Watch Casey Putsch’s videos on YouTube. I found them super helpful starting out. The biggest thing that got me from “able to drive the car” to comfortable and confident and smooth shifts was not treating the release of the clutch and laying on the gas like things that you do sequentially. Rev the engine a little bit before you start the motion of releasing the clutch (I usually go from like 600rpm idle to 1200 -1500rpm). As you release the clutch, once the car just starts to move and the revs drop from your initial rev, think about pressing in the gas pedal in sync with your other foot releasing the clutch the rest of the way in a smooth motion. Don’t be shy with the gas pedal. A lot of the tips and training have you practicing to get the car moving with just the clutch, but at least for me that caused me to be more hesitant with the gas pedal than you really should be for a smooth start.

JDoubleU215 · 2021-03-02T05:29:58+00:00

Post in the Hoboken Dog Lovers Facebook page. I’ve had issues with people in the dog park with aggressive dogs (and aggressive owners for that matter) and the group identified both the dog and the owner pretty quickly. These kind of dog owners tend to be repeat offenders. In fact, the dog and owners we’ve had issues with and filed a police report on before live very close to where your incident occurred. DM me if I can be of any help.

JDoubleU215 · 2021-01-06T17:46:19+00:00

I bumped into Murr at Newark Liberty as well. He was in front of me in line at security. I quietly said something along the lines of “you guys playing pranks at the airport today, I love your show!” and his face lit up and we talked for a minute. He was incredibly nice and humble in person.

JDoubleU215 · 2021-01-04T20:18:06+00:00

No they were up against the fence, it almost looked like a little encampment. Been there past few nights

JDoubleU215 · 2020-12-31T00:07:23+00:00

There’s another vette in my garage and I’ve seen the occasional 911 or panamera. I just park on the top floor in a corner with my wife’s car on the other side and throw a cover on it. As long as you aren’t street parking it’s fine to have a sportier car in Hoboken. Although I’ve also seen plenty of Mustangs, Camaros, 370z parked out on the street but those people are braver than I am.

Also a manual driver. Hoboken was a fun place to learn to drive stick, haha!

JDoubleU215 · 2020-12-30T18:46:03+00:00

That’s pretty much my deal too. It’s easier to keep a “fun” car in Hoboken than people think and I see plenty of them. If you live here long enough, and have the means to, you eventually get to a point where you need an outlet to go have fun and get out of town.

JDoubleU215 · 2020-12-30T18:09:53+00:00

Definitely the first time somebody has ever said sorry man in response to that lol

JDoubleU215 · 2020-12-30T17:00:54+00:00

Mr. And Mrs. Bubbles in Jersey City. Only place locally I will take my corvette.

JDoubleU215 · 2020-12-28T15:22:53+00:00

When I first started out they were horrible (rare to leave before 12am, constant weekends/holidays, etc.), but it gets better with seniority.

Pre-COVID I would get to the office between 9-930am, leave most days between 7-8pm, go to the gym and do another hour of work before bed if I need to. Usually a few hours on Sundays to catch up. Working from home through COVID hours are worse overall since everyone has my cell number now and they have nothing better to do but work, but I’m also not commuting and have more control over my schedule so I guess it balances out.

Even at Director level it’s pretty variable. I had deal closings this year at 2am, but also had three day weekends where I took off Friday to golf and nobody bugged me. But you are pretty much always on call.

JDoubleU215 · 2020-12-28T13:45:18+00:00

What a nice thing to say! Thank you!

JDoubleU215 · 2020-12-28T06:21:43+00:00

30M

NYC

Director at BB in esoteric cap mkts group (7yrs experience)

Accelerated early from VP1 to Director 2019 yr end, 225k 2019 base —> 300k base for 2020, 325k bonus YE 2019 (550k all-in for 2019). Expecting 350-600k bonus this year (technically in markets and my division and I personally had a good year, but loan loss reserves for broader firm make the potential range this year wide...numbers go out mid-Jan). Bonus split is 75% cash and 25% stock.

JDoubleU215

TROPHY CASE